2018 ANNUAL REPORT
CONTENTS Message from the University President y 2 Message from Foundation Leadership y 3 Best Foot Forward y 4, 5 Solving Bridge Decay y 6, 7 Artificial Intelligence y 8, 9 Harrington Hub y 10, 11 Mission Focus y 12, 13 Kendall Moore y 14, 15 Data Collectors y 16, 17 Travel Guide y 18, 19 News Briefs y 20–23 President’s Circle y 24, 25 Board of Directors y 26 Foundation Trustees y 27 The URI Endowment y 28, 29 Fundraising Highlights y 30 Financial Report y 31 Ways to Give y 32
ANNUAL REPORT F Y 2018 y
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z MESSAGE FROM THE UNIVERSITY PRESIDENT Dear Friends, The recent fiscal year was one marked with great achievement and recognition for the University
of Rhode Island. We received high praise during our university accreditation process, having met or exceeded all standards set by the New England Association of Schools and Colleges Commission
on Institutions of Higher Education. The Commission noted our “tremendous progress” over the past decade in “transforming URI into a globally-recognized research institution.”
In acknowledgment of our expertise in building global partnerships, the United States Agency for
International Development awarded the University the largest grant in URI history — $25 million — to
improve fisheries management and to empower coastal communities who depend on the sustainability of this threatened industry in the Philippines. We are also the subject of an Inside Higher Ed article
featuring impressive gains in both our student retention and graduation rates — even in an era of tightening budgets.
In this report you will find stories about the University’s innovative and distinctive programs, unique
learning opportunities, student achievement, and faculty leadership. Our progress in all of these areas has been dramatically enhanced thanks to your support. I am grateful for your dedication and the leadership of the URI Foundation Board of Directors. Led by Tom Ryan in coordination with Foundation President Lil O’Rourke, the Board has been instrumental in driving URI forward.
While we enjoy the broad recognition of the University for what we have achieved together, we
remain focused on the future. The year ahead will present new opportunities to enhance the URI experience for students, faculty, and other members of our academic community. I look forward to working with you to build on this extraordinary momentum.
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Sincerely,
David M. Dooley, Ph.D.
President, University of Rhode Island
z MESSAGE FROM FOUNDATION LEADERSHIP Dear Friends, As we stand alongside University leadership and reflect on the numerous achievements of
the past fiscal year, we recognize with great appreciation the contributions you have made toward
URI’s success.
The University continued to receive significant attention for its forward-looking approach to
higher education and for securing its position as a leader in areas as diverse as graduation rates, applicant performance, endowment growth, and fiscal leadership. The role that you play in all of these areas, and more, cannot be understated.
We are pleased to report that the University achieved historic levels of support from our alumni,
parents, and friends in the recently closed fiscal year. In fact, your commitment to URI resulted in a
59 percent increase in contributions over the previous year. This remarkable support will touch every college and program, with far-reaching impact. It will benefit our students, enhancing their academic
experience and creating new learning opportunities. It will also enable us to attract and retain top faculty, working to discover and innovate, while raising the profile of the research and scholarly excellence occurring here at URI.
Along with the entire Foundation Board of Directors, we remain committed to securing the
highest levels of support while prudently managing the endowment to ensure that all gifts advance the University’s mission and objectives.
As we look ahead to the University’s ambitious goals for the years to come, we are grateful for
your role in our recent achievements and heartened by your commitment to moving URI forward. Thank you for everything you do.
“We are pleased to report that the University achieved historic levels of support from our alumni, parents, and friends.”
With best regards,
Elizabeth Breul O’Rourke
President, URI Foundation
Thomas M. Ryan ’75
Chairman of the Board, URI Foundation ANNUAL REPORT F Y 2018 y
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The Center will serve as a base for tours, meetings, and a variety of campus events.
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Best foot forward THE ROBERT J. HIGGINS WELCOME CENTER
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or more than 50,000 visitors to the Kingston Campus each year, a new welcome center will serve as
their first stop and the gateway to the University of Rhode Island. The Robert J. Higgins Welcome Center is set to open in September, offering 11,000 square feet of dynamic space for prospective
students and their families, alumni, visiting scholars and lecturers, business leaders, and more.
The Center will serve as the base for admissions staff presentations and student tour guides, as
well as an additional venue for a variety of campus events. Located inside the historic granite gates on Upper College Road, it is positioned across the street from the President’s House.
The structure is modern in design, with cedar siding, peaked rooflines with dormers, cathedral
ceilings, and expansive windows. The interior boasts presentation rooms, conference space, visitors’
offices, and flexible work stations. It also features a bright and open reception area with digital screens to provide up-to-the-minute displays of events, academic programs, and University news. Dedicated and accessible visitor parking is part of the overall project.
Outside, visitors will enjoy the Taricani Terrace and the adjacent White Family Garden, replete with
gathering areas, benches, and vibrant landscaping. A new bronze sculpture commissioned for the space will be prominently featured as a visible display of Rhody pride.
Dean Libutti, vice provost for enrollment management at the University, says, “The Robert J.
Higgins Welcome Center will be a warm, inviting space that will help all those who visit begin to fully experience URI the moment they arrive on campus. We are excited not just about the beautiful struc-
ture but also about the amazing pictures, stories, and digital displays that will invite our prospective students, family members, alumni, employers, and others to want to learn more about the University.”
Honoring Robert J. Higgins ’67 A $2 million gift from Mary Danielian Higgins ’67, wife of the late Robert J. Higgins ’67, has named the new facility the Robert J. Higgins Welcome Center. Robert J. Higgins, who graduated with a B.A. and received an honorary degree in 2000, passed away in 2016. While a student, he served as president of his senior class and was a member of the ROTC. As a senior, he was tasked with driving Martin Luther King, Jr. from Westerly Airport to Keaney Gym. His wife recalls the event as his favorite memory of his time at URI. Upon graduation, Robert served in Vietnam with the U.S. Army, after which he built a distinguished career in banking, retiring as president and chief operating officer at FleetBoston Financial in 2001. “The University always remained such an important part of Bob’s life,” says Mary. “It is very fitting to have his name provide a first impression for so many of the University’s guests and visitors.”
ANNUAL REPORT F Y 2018 y
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Professor Arun Shukla Simon Ostrach Professor of Mechanical Engineering Arun Shukla’s work often involves destruction. To understand how much force it takes to shatter military body armor or how much impact a bridge can sustain before collapsing, you need to go to extremes. Shukla uses unconventional research to solve conventional problems, focusing on developing stronger materials that can withstand damage — whether from catastrophic events or long-term stress. His research has brought global acclaim, but his role as a teacher is one he values immensely. He shares what he knows with students while encouraging them on their own paths of discovery. Shukla became the first Simon Ostrach Professor of Mechanical Engineering in 2000. It is a fitting continuation of engineering excellence at URI — Simon Ostrach ’44, Hon. ’95 was internationally regarded for groundbreaking discoveries in military airplane technology and for work in microgravity and fluid dynamics. He went on to develop life-sustaining systems enabling humans to survive outside of Earth’s orbit, earning the Distinguished Public Service Medal from NASA. He established the endowed professorship in 1997. 6
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Solving bridge decay RESEARCH ON COMPOSITE MATERIALS REVEALS SIGNIFICANT ADVANTAGES
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ith significant numbers of our nation’s roads and bridges aging, a group of URI graduate
students set out to investigate a solution to what has become a national crisis affecting drivers and vexing government officials.
Doctoral candidates Irine Neba (recipient of the Gabron Family Graduate Fellowship) and Sumeru
Nayak, and master’s degree candidate Annika J. Haak evaluated information on the use of composite
materials in bridge construction in the United States, Spain, Russia, Germany, the UK, and elsewhere. Composite materials — commonly used in tennis rackets, hockey sticks, and boats — have been utilized with increasing frequency in place of concrete and steel for transportation-related purposes.
The students examined the attributes of fiber-reinforced polymer, which include high strength-to-
weight ratios, corrosion resistance, and off-site prefabrication benefits. They mapped performance and life-cycles of existing composite structures before developing comprehensive recommendations
for an audience that included U.S. Senator Sheldon Whitehouse, composite manufacturing industry representatives, and state transportation leaders.
Those recommendations included the increased use of composites not only in bridge repair but
also in construction. “We’ve been asking for data like this so we can proceed in this direction,” says RI Department of Transportation Director Peter Alviti. “It is a great help to us that URI is providing the information we need to support decisions moving forward.”
“URI has the credibility, the expertise, and the resources to bring an important Rhode Island
industry to an important Rhode Island need,” says Senator Whitehouse, referring to involvement of
the Composite Alliance, a group of 70 Rhode Island companies — many of whom are world leaders in composite boat building — who lent industry support to the URI research project. The Alliance is
using its composite expertise in boat-building to move into defense, wind-energy, aerospace, and infrastructure uses.
URI researchers urge the use of lower weight, higher strength polymers in bridge construction. ANNUAL REPORT F Y 2018 y
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Students will gain a better understanding of the multiple dimensions and applications of artificial intelligence. 8
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Artificial intelligence@URI NEW LAB WILL SUPPORT RESEARCH, ETHICAL ASPECTS OF SMART TECHNOLOGY
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magine a place where both the practical and the ethical aspects of robotics science converge, offering opportunities for each to be explored, researched, and debated. That place now exists at
the University of Rhode Island. The AI Lab will open this fall at the Robert L. Carothers Library and
Learning Commons, the first such lab in the nation located within a university library, according to Dean of University Libraries Karim Boughida.
It will enable depth of collaboration and research for the creation of devices and algorithms
relating to robotics, smart cities, wearable technologies, big data, and more. It will also serve as the hub for faculty, students, and the greater URI community to explore the social, ethical, and economic
implications of these burgeoning technologies. The promise of this strategic location earned the lab a feature in Inside Higher Ed earlier this year.
“Students recognize that AI is revolutionizing the world across all industry segments, and they have
expressed an eagerness to gain experience in all dimensions of artificial intelligence,” says Boughida.
In addition to serving as a home for students from all colleges and disciplines looking to investigate
“smart” projects, the lab will host workshops and hackathons to encourage students to think in new ways about technology’s application in everyday life.
An interdisciplinary team representing the library, computer and biomedical engineering, philosophy,
and computer science and statistics/URI’s Big Data Initiative played a critical role in launching the Lab.
“The acceleration of artificial intelligence presents humanity with one of its most fascinating
social challenges,” says Professor of Philosophy Cheryl Foster. “Prominent scientists, entrepreneurs,
and philosophers from around the world are engaged in vigorous disagreements about the risks and benefits of these tools, as well as how we should regulate them. The AI Lab will serve as a place for the
URI community to explore these issues alongside those related to the nuts and bolts of programming.”
Supporting technological advances The Rhode Island-based Champlin Foundation provided support to establish the AI Lab. The grant will contribute to the purchase of equipment, including a high-powered server and several deep-learning workstations, enabling students to experiment with AI algorithms. Access to this equipment will fully engage URI students from any number of colleges and disciplines with the multi-dimensional topics relating to intelligent machine behavior. Champlin’s decades-long support of URI, exceeding $14 million, has enabled opportunity for many thousands of students through technology and educational tools. “Their strategic investments in cutting-edge scientific equipment and advanced technologies have distinguished our academic programs and provided distinctive learning opportunities for our students,” says URI Provost Donald H. DeHayes. ANNUAL REPORT F Y 2018 y
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Aria Mia Loberti ’20 Words are essential for social change — just ask outspoken activist Aria Mia Loberti ’20. “As a student with a disability — I am legally blind — I faced discrimination throughout my elementary school years,” she says. “I learned from a young age the power of speaking up for my own rights.” A staunch advocate for the visually impaired, Loberti has taken her activism from her hometown of Johnston, R.I. to the United Nations, where she was a youth delegate and a member of the U.N. Women’s Task Force. Last February, she brought her formidable voice to the stage at TEDxURI, with an impassioned plea for activism. The recipient of several URI Foundation scholarships, including the Donald Strauss Legislative Internship and the Ann Spruill Scholarship, Loberti is pursuing three majors — communication studies, political science, and philosophy. Outside the classroom, she’s a research assistant at the Harrington School; a teaching assistant; a yoga teacher; president of URI’s Rhetoric Society; the new president of URI’s chapter of Lambda Pi Eta, the National Communication Association’s honor society; and past president of the URI UN Association. “Constant purpose,” she says, “is where I get happy.” 10
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Harrington Hub aims higher RICHARD ’73 AND JEAN HARRINGTON COMMIT $3 MILLION
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hen the Harrington Hub for Global Leadership in
Communication and Media opened in Fall 2016, it heralded a new era of communication studies at URI.
Now the Hub is poised for an expansion, thanks to a $3 million gift from Richard Harrington ’73, former president and CEO of Thomson Reuters, and his wife, Jean.
The Harringtons, whose $5 million gift in 2009 named the
Harrington School of Communication and Media, have long
shared the University’s vision to educate tomorrow’s leaders in one of the world’s fastest-evolving fields. “What we aim to do
in the Harrington School,” says URI President David M. Dooley, “is produce the professionals who will guide and lead and contribute to new developments in the world of global communications.”
The Harrington Hub, located in Ranger Hall, serves as the high-tech home to the School. The
majority of the original $6.5 million renovation of the Hall came from the Harringtons and resulted in a cutting-edge learning center, editing and audio suites, a film screening theater, and state-of-the-
art studio spaces. The School’s growing prominence is evident in a 40 percent increase in incoming students for next year, and through the support of such prominent media figures as Christiane Amanpour ’83 and John King ’85 of CNN, Vladimir Duthiers ’91 and Adam Wiener ’87 of CBS, and Meredith Vieira of NBCUniversal. All are members of the School’s advisory board.
Plans for the expansion, which will more than double the usable space, include new media
production facilities, additional active learning spaces, and a new social media traffic center/tracking
laboratory. Harrington is optimistic for what he has helped to create at URI: “I have confidence that when people talk about research and teaching in communication and media, the Harrington School will feature prominently in those discussions.”
Students at the Harrington Hub benefit from state-of-the-art technology and learning spaces. ANNUAL REPORT F Y 2018 y
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More than 300 U.S. military veterans are enrolled at the University of Rhode Island each year. 12
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Mission focus BUILDING SUPPORT FOR VETERAN STUDENTS
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egan Sadler was deployed for the first time in 2003. At 25, the mother of two was bound for the Middle East with the U.S. Navy. Flash
forward 15 years, and Sadler, now out of the military and mother to a
combined five teenage children with her second husband, has just finished her first year at URI.
Sadler is now part of the leadership team of the University’s Student
Veteran Organization (SVO), and one of more than 300 veterans enrolled at
URI. A steady influx of veterans have capitalized on post-9/11 GI Bill and other Veterans Affairs benefits that cover the costs of college. Universities across the nation are enrolling increasing numbers of veterans and seeking ways to ease the transition.
According to Kathy Collins, vice president for student affairs, in fall 2018 the University will have
its first assistant director of veterans affairs and military programs. “We want student veterans to have
the resources they need to feel welcome, to become more fully engaged in our community, and to succeed at earning a URI degree,” says Collins. “We are grateful to these men and women for their service and want them to know that we, as a community, are better for having them here.”
In Sadler’s role with the SVO, she is intent on improving the resources and communication
channels veterans need. The challenges, she says, are real: “Student veterans are not your typical
freshmen. We come to URI with life experience that can be difficult for others to relate to. But we want to be here and we want to succeed.”
Sadler is confident that the new position at URI will improve the experience. “URI does a really
good job meeting the needs of the typical freshman, from providing orientations to counseling services and everything in between,” she says. “It will be great to see versions of these resources made available to student veterans. If we provide leadership on these issues, we’ll all succeed.”
Scott Carr ’19 Scott Carr ’19 is a U.S. Navy veteran with six years active duty service, including multiple deployments on ships in some of the most militarily tense areas of the world. “It’s hard for most people to understand the true sacrifices individuals in the military make,” he says, “but I am grateful every day for the lessons it taught me.” He is currently a URI student pursuing his dream of becoming a health and physical education teacher. Working toward a degree that will allow him to be there for his family keeps him motivated, as does the generosity of fellow veterans who want him to succeed. Jared Aaronson served in Vietnam and is passionate about supporting veterans. He recently made a gift to the URI Student Veterans Educational Fund to honor his brother, Philip Aaronson ’67, who also served in Vietnam. Philip and his wife, Marsha ’68, in turn, contributed to the fund, which this year assisted five student veterans at URI, including Carr. “The transition from military to college has been more difficult than I expected. The scholarship support will truly help me and my wife — I can’t tell you how much this means to us both,” says Carr.
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Mark Scialla ’13 A high-school dropout with a dream of becoming a journalist, Mark Scialla ’13 first enrolled in URI’s Alan Shawn Feinstein College of Continuing Education before transferring to the Kingston Campus. He worked as an editor of URI’s student newspaper and won an internship at the Washington, D.C., headquarters of Al Jazeera, the international news network, while receiving a number of URI Foundation scholarships. Since then, Scialla has leapt from one career milestone to the next. He most recently served as a reporter and producer at PBS NewsHour. Now, Scialla wants to focus on the environmental beat — a passion since his days as a student of Kendall Moore’s. “Professor Moore and I shared an interest in the environment; she encouraged me to pursue it,” says Scialla, who was selected as a fellow at the prestigious Metcalf Annual Science Immersion Workshop for Journalists, held this summer at URI. The highly revered program is supported by the Michael P. Metcalf Institute for Marine and Environmental Reporting Endowment at URI. Scialla says, “Good journalism seeks to make discovery and raise awareness. There are few stories more important than covering the environment.” 14
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Capturing life’s complexities PROFESSOR KENDALL MOORE’S FILMS HAVE HEART AND DEPTH
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endall Moore makes documentaries about the issues that shape headlines. Her depictions of ordinary people confronting extraordinary challenges are highly nuanced yet deeply personal and always accessible. The URI journalism professor and award-winning filmmaker, who has
benefited from private support as a faculty member at URI, spoke about her influences and inspirations. Your films often focus on race and the environment. How would you describe your approach?
I’m drawn to issues that are personally and politically meaningful to me as a woman of color. Also, my films are character-driven and use multiple lenses, such as economic, political, health, and gender, because I want to honor the complexity of our problems. Documentary film allows for a nuanced
treatment, explored through the inner lives of the people who are living these challenges — to fully understand the issues at hand.
What draws you to a story? I find stories and stories find me. The typical fashion is through reading and research. The non-typical way is more interesting — it’s when I start to see the people closest to
me as having important stories to tell. For example, I have friends who have gone through a medical diagnosis with their daughter that has altered their course, permanently. But to see how they’ve adapted
in the face of this serious challenge has been something to behold. How they manage in their everyday life could be very helpful to others. They agreed to tell their story and we began shooting this spring.
You’re an advisory board member of URI’s Metcalf Institute for Marine and Environmental
Reporting. How did you get involved? Peter Lord was the reason I got involved with Metcalf. In
my mind, I dedicate half of what I do to Peter because he was a personal role model and a constant
reporter. There were times when we would be talking and he would take out a note pad and take notes. I’d say, “We’re just talking,” and he’d say, “There’s a story in everything.”
Editor’s note: Peter Lord was a renowned journalist and Metcalf’s first co-director. After his death in 2012, his widow, Mary Ann, created the Peter B. Lord Environmental Journalism Scholarship at URI.
Professor Moore works closely with students to bring culturally relevant topics to film.
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Student inventions could have profound implications for patients and caregivers.
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Wearable data collectors INNOVATIONS IMPACT PATIENTS AND ALTER BUSINESS MODELS
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n a biomedical engineering class at URI called “The Internet of Wearable Things,” students are immersing themselves in disruptive technologies — innovations that are shaking up the norm
and altering the way entire industries operate. Teams of students in Assistant Professor Kunal
Mankodiya’s class have designed wearable technologies, products that are both cutting-edge and
potentially lifesaving, from a onesie for newborns that can treat jaundice to a smart water bottle that prevents dehydration for elderly patients.
These “wearables,” or electronics that can be worn as clothing or an accessory, are embedded
with sensors and software that collect data and communicate it to users, patients, and caregivers.
The benefits are profound. Patients can remain at home while a doctor monitors their health from
afar, measuring details such as heart rate, respiration, activity, and even posture through a tablet. Patients and their families also have the advantage of being more directly involved in their own care.
Students presented their projects to their peers and to faculty at the end of the fall semester.
Sawyer Nichols ’18 and his team came up with a pair of glasses that measures exposure to harmful
ultraviolet rays in real time through a mobile device. They hope the product will not only be useful, but commercially viable.
“The class gave us an exciting chance to bring to life our own innovations,” says Nichols. “What
makes Professor Mankodiya’s course so unique is the entrepreneurial approach. It’s an awesome opportunity for engineering undergraduates, with applications to the world.”
Mankodiya, whose research at URI has been funded by three National Science Foundation grants,
one National Institutes of Health grant, and 16 foundation or local grants, returns the compliment: “Our
students use creativity, innovation, and imagination to design incredible wearable technologies that could positively impact society,” he says. “I’m privileged to guide them along and help them flourish.”
Joshua Harper ’18 Not many majors require the skills of a designer, an inventor, and an engineer. If you’re a biomedical engineering (BME) major at URI, you are all of these things and more: you are a problem solver for complex medical issues. Joshua Harper ’18 came from Maine to double major in BME and German. In his final year, he created two innovative devices to improve lives. The first was the smart onesie he created in Professor Mankodiya’s class; the other is a device that enables patients who can’t speak or use sign language to communicate via a smart phone app connected to a controller. Harper now works at a Massachusetts company that makes hematology equipment. As a student he received multiple merit scholarships, including the A. Robert Lusi Engineering Scholarship, without which, he says, “I wouldn’t have been able to attend URI or pursue all of my goals.” Bob Lusi ’61, who established his scholarship at URI in 1998, congratulated Harper on his graduation, saying, “All the credit goes to him. I am grateful the scholarship helped him achieve his goals.” ANNUAL REPORT F Y 2018 y
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Kenny Cordoba-Llanos ’18 For most language majors, the point of vocabulary drills is to one day land in the country of your studies, ready to find your way and converse with the locals. That dream came true for Gilman Scholar Kenny Cordoba-Llanos ’18, who spent his senior year in China in an intensive language-learning program at Beijing Union University. “I wanted to get the most authentic experience possible while completing my undergraduate degree,” says Cordoba-Llanos, who earned dual degrees in global business and Chinese. Before his trip, Cordoba-Llanos dedicated himself to Mandarin, achieving advanced proficiency and serving as a tutor and resident advisor for the URI Chinese Language Flagship Program, one of only 12 programs in the U.S. for double majors. But none of that prepared the Providence resident for the wonder of being in Beijing. “Even though I had been studying Chinese for three years, the amount you learn by simply exchanging words with native speakers is truly astounding,” he says. Cordoba-Llanos, the recipient of the Hasbro International Business Program Scholarship, is currently completing an internship at the Chen Lu Ice Center in Beijing and will continue his studies abroad. 18
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Travel guide URI AMONG TOP UNIVERSITIES FOR INTERNATIONAL STUDIES AND INTERNSHIPS
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he University of Rhode Island is often recognized for its exceptionally attractive campus (it was named the third “Most Beautiful Coastal College Campus” in the nation by Best Value Schools in 2015). But shortly after students arrive at URI, they are encouraged to go away — specifically,
to expand their studies beyond campus with a year, a semester, or a J-term abroad. As part of URI’s
mission to prepare students to live, work, and thrive in a globalized society, the University provides them
with the opportunity to take advantage of more than 800 study abroad options in more than 65 countries.
In addition to a number of privately-supported travel opportunities at URI, including the William
and Sharon Flynn International Study Abroad Opportunity Fund, students are afforded the option
to apply for the federally-administered Benjamin A. Gilman International Scholarship Program. The program recently named URI as one of the top universities producing Gilman Scholars. It recognized
URI for making international study more accessible and inclusive for students of all backgrounds through its program, as well as for producing Gilman Scholars who study the STEM disciplines.
“Our institution prioritizes the Gilman Scholarship program, as it has proven to effectively promote
our strategic objective of not only increasing the number of domestic students engaging in international educational experiences, but also diversifying the population of students who participate,” says Tom
Hospod, assistant director of the URI Office of International Education. “Most importantly, the awards
have made academic programs abroad more accessible to students that have traditionally been underrepresented.”
Since the program’s inception in 2001, URI students have received more than 100 Gilman
Scholarships totaling more than $400,000. In the 2017–18 academic year, 17 URI students traveled
abroad under the program. “The Gilman Scholarship is a nationally competitive award, and it serves
as a major door opener to other great opportunities,” says Kathleen Maher, director of URI’s Office of National Fellowships and Academic Opportunities. “We have a student who just won a Fulbright who was a Gilman, and two other Gilman winners are on their way to medical school in the fall.”
More than 800 study abroad opportunities are available to URI students each year.
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Winning strategies boost graduation and retention rates Following budget cuts in 2009, URI launched an ambitious overhaul of its general education curriculum, leading to big gains in key areas. As a result, graduation rates increased by 14 percent, retention rates by 6.3 percent. “They were thoughtful when they had to respond to adversity,” said former U.S. Department of Education official David Bergeron ’78 in an Inside Higher Ed article. “They were focused on student success.”
87%
FULL-TIME FACULTY WITH DOCTORAL OR TERMINAL DEGREES AT URI
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NEW FACULTY HIRES AT URI IN 2017–2018
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NATIONS REPRESENTED BY INTERNATIONAL STUDENTS AT URI
URI achievements cited in new accreditation report Citing “tremendous progress the University has made over the last decade in transforming URI into a globally recognized research institution,” the New England Association of Schools and Colleges recently granted URI accreditation for another 10 years. The evaluating commission observed: “This talented campus community… provides a solid foundation from which the University can continue its mission as it transforms [URI] from what it was to what it needs to be as a leader in the 21st century.”
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Alumnus establishes endowed professorship at College of Business The Fred ’78 and Susan Newton Endowed Professorship in Human Resource Management will be a new asset in recruiting exceptional faculty for the College of Business. The $1 million commitment aligns with the College’s 2017–2022 Strategic Impact Plan, focused on expanding research, scholarship, and efforts to enhance the academic experience. “The University of Rhode Island gave me many opportunities,” says Newton. “Susan and I are delighted to do what we can to provide new opportunities for today’s students.”
126,036 UNIVERSITY OF RHODE ISLAND ALUMNI WORLDWIDE
4,000
INTERNSHIP OPPORTUNITIES AVAILABLE TO URI STUDENTS
$607M INVESTMENT IN URI FACILITIES SINCE 2007
Core of Kingston Campus designated as historic landmark The U.S. Department of the Interior’s National Park Service has added a 29-acre section of the University’s main campus in Kingston to its National Register of Historic Places. This puts URI on the federal list of properties whose historical and architectural significance makes them worthy of preservation as well as recognition. “The architecture of the buildings was quite striking,” says Paul R. Lusignan, historian, National Register of Historic Places.
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‘Clean room’ provides experiential learning in Avedisian Hall The market for new and better medications is ever expanding. The rapid growth of the pharmaceutical industry has created demand for skilled professionals and infrastructure to support drug development and best practice manufacturing. The College of Pharmacy is training students and professionals in its state-of-the-art Good Manufacturing Practice (cGMP) Facility. URI’s “clean room” will combat contamination — the biggest risk to drug manufacturing.
2,012
URI FOUNDATION SCHOLARSHIPS AWARDED IN FISCAL YEAR 2018
$100M
FINANCIAL AID SUPPORTING URI STUDENTS IN FISCAL YEAR 2018
12,029 CONTRIBUTORS TO URI IN FISCAL YEAR 2018
Rhody’s repeat visit to the NCAA Tournament URI advanced to the NCAA Tournament for the second straight year. The only other time the team has reached the tournament in successive years was when they went three straight seasons from 1997–99. They beat Oklahoma in overtime in the opening round, advancing to play Duke in the round of 32. The Rams continue to build on the excitement with high expectations under newly-named Head Coach David Cox, and with support from Men’s Basketball Excellence Fund contributors.
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Inaugural RhodyThon breaks national record URI students danced their way into history at a student-run fundraiser benefiting Hasbro Children’s Hospital. The 1,400-plus students who participated in RhodyThon danced for eight hours, beginning at 6 p.m. on Saturday, March 24, raising more than $150,000. RhodyThon was the largest first-year dance marathon in the history of such events for the Children’s Miracle Network, a national association of hospitals that includes Hasbro. One-hundred percent of the proceeds benefit Hasbro patients.
$139.6M VALUE OF THE URI ENDOWMENT ON JUNE 30, 2018
2,701
FIRST-TIME CONTRIBUTORS TO URI LAST YEAR
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YEARS URI HAS BEEN NAMED AMONG THE NATION’S “GREENEST COLLEGES”
Ryan Institute launches partnership with Banner Alzheimer’s Institute The George & Anne Ryan Institute for Neuroscience has joined forces with Alzheimer’s care and research powerhouse Banner to find new treatments for Alzheimer’s disease and to support caregivers. The initial focus is on boosting enrollment in the Alzheimer’s Prevention Registry. “This partnership is not only a meaningful next step in that mission but also paves the way for future research collaborations and innovation,” says Paula Grammas, executive director of the Ryan Institute and Thomas M. Ryan Professor of Neuroscience.
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Annual Report on Giving On behalf of the entire University of Rhode Island community, we gratefully acknowledge our honor roll donors who made gift commitments of $10,000 or more in the fiscal year ending June 30, 2018. We are most appreciative of the generosity demonstrated by individuals, family foundations, and corporate and
foundation supporters. Your support of the University makes a meaningful difference. For a full list of contributors committing a minimum of $250 between July 1, 2017 and June 30, 2018, please visit urifoundation.org/contributors2018. INDIVIDUALS $100,000 and above Larry Aker ’64 M.A.’76 Renate Aker Henry H. Anderson, Jr. H’90 Edward Avedisian Joan G. Bonomi ’69 Richard J. Bonomi Nancy Jane Bowden ’56 M.S.’61 Mark P. Charron ’77 P’05 Sharon S. Chisholm ’68 P’94 Thomas J. Chisholm ’68 P’94 Karen S. Cofoni Paul M. Cofoni ’70 Ann M. Costantino ’84 David O. Costantino ’84 Gerald L. Deroy ’71 William H. Eigen, III ’90 Kam Esmail ’66 M.S.’68 Jonathan Fain Gail A. Gay ’82 P’18 Barry M. Gertz ’76 Sandra J. Gertz ’86 Haffenreffer Family Fund Kristen G. Haffenreffer Jean M. Harrington Richard J. Harrington ’73 H’02
24
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Mary Danielian Higgins ’67 James A. Hilton, Sr. ’83 P’17 Jeffrey J. Ingram ’80 Ava B. Kleinman Bruce M. Kleinman ’75 Michael F. Kohl Helen C. Lusi Jane A. Mclamarrah ’77 Peter A. Mottur ’92 Barbara Murray ’77 William J. Murray ’78 Frederick J. Newton, III ’78 Sue C. Newton Picerne Family Charitable Foundation Caroline R. Ricci ’72 Herman H. Rose M.P.A.’70 Ryan Family Foundation Francis J. Schilling Helen Izzi Schilling ’54 Beatriz D. Struck John S. Struck ’74 Shivan S. Subramaniam H’12 Jim Taricani H’18 John H. Visneuski, Jr. ’70 Anthony W. Vittimberga ’87 Gwenn M. Vittimberga ’81 Jacklyn S. Vittimberga P’81 P’82 P’87 P’88
Laureen White ’81 Claire Wilcox Gregory Wilcox Anonymous $50,000 to $99,999 Jared D. Aaronson Krishnan Balasubramanian M.S.’70 Elizabeth Gallogly Burt ’79 Steven P. Burt ’79 Thomas D. Cerio, III ’76 P’09 Thomas D. Cerio, IV ’09 Renee Cohen Margo L. Cook ’86 Cynthia Marcille Deysher ’78 David A. Duffy Steven E. Elterich ’72 M.B.A.’74 Victor J. Farmer ’64 Thomas E. Fish ’76 Kate Fisher Russell Fisher Peter M. & Mildred J. Galanti Foundation Joseph P. Healey David E. Johnson ’80 Suzette Fresco Johnson ’82 Norton S. Karno Heidi Kirk Duffy H’95
Miriam Weyker Trust Eleanor M. Perfetto ’80 M.S.’88 Sharman E. Prouty M.L.I.S.’76 † Donna R. Ross Mark A. Ross ’64 H’05 Katherine Speliotis P’90 Sydney A. Spink ’58 † Stephen J. Sullivan, Sr. P’05 Diane Sullivan P’05 Elaine Thomas Christopher J. Wolfe ’91 Anonymous $25,000 to $49,999 Lauren Baker-Hart ’81 P’18 Geraldine M. Barber ’70 Gregory P. Barber Victor & Gussie Baxt Fund Steven A. Bouley ’80 Frank M. Carrano Shannon E. Chandley ’83 P’12 Gregory R. Cianfarani ’92 Heidi L. Cianfarani ’92 M.A.’00 Doreen Clappin P’17 James P. Clappin ’80 P’17 William J. Cummings ’71 Joel A. Dain P’83 Dennis J. Duffy ’80 Kathleen Yanity Duffy ’80
Esther Emard M.S.’82 M.S.’88 Richard N. Emard Fascitelli Family Foundation Patricia M. Ferron Richard Ferron H. James Field, Jr. Janet Field Linda B. Ford ’84 Thomas J. Ford ’87 Howard Steven Frank ’62 Mary Frank Jay C. Hart ’83 M.B.A.’86 P’18 Alan G. Hassenfeld H’11 Stephen Jonas ’64 David M. Klein ’68 David Luther Martin ’68 David J. Martirano ’91 Joseph F. Matthews ’80 P’08 P’10 John J. Murray, III ’70 Prince Charitable Trusts Frederick H. Prince Leonard A. Reinhart ’77 Thomas J. Silvia ’83 P’12 Alan R. Spachman ’69 M.B.A.’71 Florence M. Spachman Malcolm L. Spaulding ’69 Ph.D.’73 Marcella R. Thompson Ph.D.’11 Michael G. Thompson Pamela M. Thye † DECEASED
Richard G. J. Vangermeersch M.S.’64 Charles Henry Wharton ’67 Joy H. Wharton ’68 Rhonda C. Wilson Bruce A. Wolpert ’75 Marlene F. Wolpert Anonymous $10,000 to $24,999 Black Brogan Foundation Patricia J. Black ’95 Karen E. Blakeley ’83 P’14 Robert B. Blakeley ’82 P’14 Thomas P. Blaszkowski Ph.D.’69 Bradford Reed Boss ’55 H’82 P’97 Jeffrey R. Cammans P’12 Kathleen L. Cammans P’12 Dianne Kenny Card ’69 Wesley R. Card ’70 Barclay P. Collins M.S.’74 Ph.D.’78 Thomas W. Coons Thomas J. Drury ’74 Alfredo R. Esparza Diana R. Esparza Beverly Boxser Joy ’52 † Thomas Y. Exley Norman & Rosalie Fain Family Foundation William Jay Falk James K. Farrell ’80 Lawrence K. Fish Steve Flagg Jennifer Ann Francis Peter Francis Carrie A. Gangl ’99 Marian R. Goldsmith Mark E. Goulart ’83 M.B.A.’91 P’20 Paige Ryan Goulart ’86 P’20 † DECEASED
Stephen M. Greenlee M.S.’82 Shirley T. Gulvin ’57 P’81 Janet S. Harford Stephen P. Harrington Hazard Family Foundation Gloria Decastro Heisler ’71 M.A.’75 P’89 † Roberta Mudge Humble ’68 M.A.’71 Kevin Hunt Kenneth J. Hylander ’80 Virginia Fricano Hylander Audra J. Jaconetti ’90 Jay A. Kaiser ’68 Jean Kaiser Andrew Kaldor Louis J. Kirschenbaum Susan S. Kirschenbaum M.A.’76 Ph.D.’85 Harold A. Koussa ’69 Charles A. Lamendola, Jr. Carole R. Lamendola ’77 Amey Wilkinson Larrat ’82 P’10 P’13 E. Paul Larrat ’82 M.B.A.’84 M.S.’88 P’10 P’13 Robert E. Leeks ’92 Jann E. Leeming ’77 Daniel A. Levinson Little Family Foundation Arthur D. Little A. Robert Lusi ’61 Carol C. Lusi ’61 James T. MacKenzie ’86 Mary E. MacKenzie ’87 E. Patrick Maguire ’92 Leo Mainelli ’58 P’87 Lita A. Mainelli P’87 James Everett Marble, Jr. ’55 Sara Jo Marble John J. Mastrianni ’83 Michael F. McNally M.B.A.’81 P’15
Michele Gauthier McNally ’77 M.S.’79 P’15 Keith M. Moore ’74 Ph.D.’04 Kimberly S. Nelson ’81 Scott T. Norris ’98 Mark Tyler Page ’92 Christopher T. H. Pell M.M.A.’80 Janet Alexander Pell ’96 Robert J. Petisi ’74 George Petrovas Susan Carson Petrovas ’92 H. Douglas Randall, III ’72 Lorraine W. Randall M.A.’78 Linda Rendine Richard D. Rendine ’58 Lisa Rodier ’87 Sandra B. Rosen M.A.’75 William M. Rosen Paula Ravin Rothschild Victor R. Santoro P’97 Elizabeth Callanan Sepe ’74 William E. Sepe ’74 Sharon McPherson Seymour ’68 M.B.A.’75 Richard J. Shapiro Franklin Wallace Simon ’50 H’13 Blair Brennan Slaughter ’85 Jon S. Solis ’81 P’04 P’10 P’13 Patti J. Solis P’04 P’10 P’13 Matthew Somberg Jean Fiddes Stebbins ’64 M.A.’81 J. Craig Swanson M.S.’76 Ph.D.’87 P’03 Richard Touzos P’19 Nancy A. Tucker ’81 F. Robert Tuhy ’94 Verrecchia Family Foundation Constance Child Whitaker ’46 † Christopher S. Yun ’88 Anonymous
CORPORATIONS AND FOUNDATIONS $100,000 and above The Champlin Foundation Charles Pagella Trust Confucius Institute Headquarters G. Unger Vetlesen Foundation Greenfins Rhode Island Foundation Routhier Foundation Schwab Charitable Fund Teknor Apex Co. $50,000 to $99,999 Davis Educational Foundation Democracy Fund Heising-Simons Foundation Karno Foundation Max Kade Foundation Inc. National Philanthropic Trust Target ALS Foundation United Way Verdure Sciences $25,000 to $49,999 CVS Health Deepwater Wind Google Inc. Independent Insurance Agents of Rhode Island Judith Fillmore Trust Maxson Automatic Machinery Co. Inc. National Grid Foundation Ocean State Clean Cities Coalition Rhode Island Marine Trades Association Shellfish Restoration Foundation Sigma Kappa National Housing Corp. Taco Incorporated
Toyota Motor Engineering & Manufacturing North America Inc. ZF Friedrichshafen AG $10,000 to $24,999 3M Co. Activitas Inc. American Cancer Society American Chemical Society Amgen Corp. Amica Mutual Insurance Co. Audubon Society of Rhode Island Ayco Charitable Foundation Boston Foundation Brooks Mathews Foundation Citizens Bank Delaware Community Foundation Fairholme LLC Friends of Craft, Inc. German Academic Exchange Service International Game Technology Irene D. Williams Trust Los Alamos National Laboratory Luke Charitable Foundation Magnetic Seal Corporation Matunuck Oyster Farm, LLC Ocean State Job Lot Preferred Home Health Care Raytheon Rhode Island Heavy & Highway Construction Riordan, Lewis & Haden Rogers Corporation Salt Ponds Coalition Schneider Electric Corporation Vera J. Clark Trust Walgreens
ANNUAL REPORT F Y 2018 y
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Board of Directors UNIVERSITY OF RHODE ISLAND FOUNDATION Executive Committee
Board Members
Chairman of the Board: Thomas M. Ryan ’75 H’99
Rep. Marvin L. Abney M.B.A.’00 Lorne A. Adrain ’76 Dea T. Belazi Pharm.D.’01 Michael F. Brandmeier David J. Buckanavage ’80 Edward B. Deutsch ’68 Diane Chace Fannon ’74 Phillip Kydd ’81 P’12 Margaret S. Leinen Ph.D.’80 H’11 Carol J. Makovich ’75 Joseph E. O’Neil ’75 Nancy R. Pfeiffer ’83 Rusty Rueff Cynthia Davis Sculco ’65 Diane Sullivan P’05 Robert K. Vincent ’75
Vice Chairs: Alfred J. Verrecchia ’67 M.B.A.’72 H’04 Paul M. Cofoni ’70 Raymond M. Williams ’87 P’21 Treasurer and Finance Committee Chair: Mark P. Charron ’77 P’05 Secretary: Wendy P. Field ’74 Investment Committee Chair: Deborah A. Imondi ’83 M.B.A.’86 Governance Committee Chair: Laureen White ’81 Campaign Committee Chair: Michael D. Fascitelli ’78 H’08 Audit Committee Chair: Charles Henry Wharton ’67 At-large Members: Geraldine M. Barber ’70 Margo L. Cook ’86 Frederick J. Newton, III ’78
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Ex-Officio Timothy J. Delgiudice
Chair, Council on Postsecondary Education, RI Board of Education
David M. Dooley, Ph.D.
President, University of Rhode Island
Daniel G. Lowney ’75
President, URI Alumni Association Executive Board
Trustees UNIVERSITY OF RHODE ISLAND FOUNDATION Lorne A. Adrain ’76 Lisa A. Ahart M.S.’03 Linda A. Anderson P’89 P’92 Geraldine M. Barber ’70 Banice Carl Bazar ’51 P’76 George J. Bedard ’78 Bradford Reed Boss ’55 H’82 P’97 Edward W. Bouclin, Jr. Michael F. Brandmeier John J. Brough, Jr. ’78 P’11 David J. Buckanavage ’80 Jeffrey R. Cammans P’12 Scott A. Campbell ’77 Anna Cano-Morales ’91 Wesley R. Card ’70 Mary F. Carmody ’82 Frank Nicholas Caruso ’67 P’93 P’02 Thomas M. Cataldo ’71 Thomas D. Cerio, III ’76 P’09 Shannon E. Chandley ’83 P’12 P’22 Mark P. Charron ’77 P’05 Edmund D. Cianciarulo, Jr. ’64 Paul M. Cofoni ’70 Joseph M. Confessore ’96 Robert Lee Considine ’60 P’01 Margo L. Cook ’86 William Croasdale, III ’59 P’84 P’86 P’90 Laura H. Cunningham Stephen M. Cunningham ’76 Marie Campopiano DiBiasio ’61 M.A.’68 Dennis J. Duffy ’80
Kathleen Yanity Duffy ’80 Mary S. Eddy H’98 Karina Montilla Edmonds ’92 William H. Eigen, III ’90 Esther Emard M.S.’82 M.S.’88 Michael D. Fascitelli ’78 H’08 Alan Shawn Feinstein H’98 Wendy P. Field ’74 Joseph G. Formicola, Jr. ’69 James C. Forte ’76 Barry M. Gertz ’76 Mary A. Gray ’52 P’79 P’89 H’96 Hon. William R. Guglietta ’82 Audrey Barker Hallberg ’61 P’80 P’85 Richard J. Harrington ’73 H’02 Alan G. Hassenfeld H’11 Mary Danielian Higgins ’67 Ann Stephenson Hitchen ’88 P’99 James E. Hitchen, Jr. ’65 P’99 Andrea M. Hopkins ’68 P’91 James A. Hopkins ’62 Deborah A. Imondi ’83 M.B.A.’86 Saul Kaplan ’79 Caroline Tennant Kaull ’66 P’90 P’91 P’94 H’03 Donald N. Kaull ’67 P’90 P’91 P’94 Kenneth N. Kermes H’06 Heidi Kirk Duffy H’95 Kenneth E. Knox ’70 P’90 Peter F. Kohlsaat ’57 P’81 P’89 Phillip Kydd ’81 P’12
David B. Lea, Jr. ’59 Margaret S. Leinen Ph.D.’80 H’11 Matthew J. Leonard ’88 P’17 James William Leslie ’52 P’82 P’87 Raymond G. Lundgren, Jr. ’54 M.S.’60 P’81 P’84 Mary P. Lyons M.A.’67 Ph.D.’82 Molly D. Magee M.B.A.’91 Leo Mainelli ’58 P’87 Carol J. Makovich ’75 David J. Martirano ’91 Raymond M. Mathieu ’70 M.B.A.’73 P’10 Sandy S. McCreight M.A.’74 H’94 Michael F. McNally M.B.A.’81 P’15 Peter J. Miniati, III ’85 Francesco Peter Morsilli ’53 Blanche Richard Murray ’41 P’73 P’74 H’88 Henry J. Nardone, Sr. ’43 P’70 P’73 P’76 H’93 Nathaniel J. Nazareth, Sr. P’80 P’81 Frederick J. Newton, III ’78 Michael A. Nula ’96 M.S.’01 Jack M. Parente ’85 P’15 P’16 P’18 Louise R. Pearson Constantinos Perdikakis ’75 P’01 P’03 Robert J. Petisi ’74 Jay Placencia ’01 H. Douglas Randall, III ’72 Perry A. Raso ’02 M.S.’06 H. Milton Read, Jr. ’54 P’82 P’86
Edgar Allan Reed ’56 Richard D. Rendine ’58 Eric D. Roiter ’70 Mark A. Ross ’64 H’05 Rusty Rueff Robert S. Russell ’75 Thomas M. Ryan ’75 H’99 Vincent Anthony Sarni ’49 P’73 H’85 Col. Philip J. Saulnier (Ret.) ’62 H’12 Cynthia Davis Sculco ’65 Thomas J. Silvia ’83 P’12 P’22 Charles S. Soloveitzik ’72 Ann M. Spruill ’76 Jane M. Stich ’62 M.A.’69 M.B.A.’83 P’88 John S. Struck ’74 Diane Sullivan P’05 Donald P. Sullivan ’71 Norman G. Tashash ’77 Louise H. Thorson M.B.A.’85 Alfred J. Verrecchia ’67 M.B.A.’72 H’04 Robert K. Vincent ’75 Alan H. Wasserman ’75 Robert A. Weygand ’71 ’76 P’96 P’02 M.A.’09 M.P.A.’10 Charles Henry Wharton ’67 Laureen White ’81 Greg S. Whitehead ’78 P’11 Raymond M. Williams ’87 P’21 Maribeth Q. Williamson ’83 Christopher J. Wolfe ’91 Alan G. Zartarian ’69 P’03 ANNUAL REPORT F Y 2018 y
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The URI Endowment THE CORNERSTONE OF PRIVATE GIVING
T
he University’s endowment provides a dependable and perpetual source of
funding to support URI students, faculty, programs, and facilities. The 1,100plus funds are invested as part of a long-term strategy to achieve a rate of
ASSET ALLOCATION AS OF JUNE 30, 2018
3.2%
return which will generate income to support what is meaningful to our contributors,
CASH AND EQUIVALENTS
and to preserve and enhance the principal value of the endowment.
The URI Foundation Board of Directors sets a spending rate each year, which
is dependent on a number of factors, including principal growth and market
performance. Payouts calculated for fiscal year 2018 were based on a rate of 4.79
2.1% PRIVATE INVESTMENTS
30.8% US EQUITY
percent of the three-year average market value of the portfolio. This rate included
management fee (1.49 percent). This spending rate calculation resulted in a
11.6%
distribution of $3.8 million for fiscal year 2018.
FIXED INCOME
As of June 30, 2018, the University’s endowment portfolio had a market
value of $139.6 million, more than $11 million higher than the previous year. The
committee chair Deborah Imondi ’83, M.B.A. ’86, is working diligently to enhance the management of the fund to maximize returns while maintaining appropriate risk
10.0% EMERGING MARKETS
the amount distributed to the University (3.3 percent) and the Foundation’s
Foundation Board of Directors, in concert with its Investment Committee, including
7.1% REAL ASSETS
17.9%
17.2%
DEVELOPED EX-US EQUITY
MARKETABLE ALTERNATIVES
and liquidity parameters. The market value and payout impact for the endowment for each of the past five years are represented on the facing page.
The University and the URI Foundation, committed to assuring the continuation of the critical advancement work that benefits our faculty and students and protects and enhances the endowment, designates five percent of every gift toward the Strategic Reinvestment Fund. 28
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A full listing of all endowment funds can be accessed at urifoundation.org/endowmentfunds.
PORTFOLIO VALUE
ANNUAL ENDOWMENT PAYOUT IMPACT
As of June 30, 2018, the University of Rhode Island’s endowment portfolio had a market value of $139.6 million. The market value for each of the past five years is represented below.
The following graph represents the total amount of endowment-generated funds distributed to the University each year, based on the Foundation’s spending policy, for the five-year period shown.
$150
IN MILLIONS
$4.0
$140
140
$130 $120 $110
$3.0
128 119
108 2014
2015
3.4
3.7
3.7
3.8
2016
2017
2018
2.9
$2.0
118
$100
IN MILLIONS
2016
2017
2018
$1.0
2014
2015
ANNUALIZED RETURN ON INVESTMENT
TOTAL ASSETS
The annualized return on URI’s endowment portfolio, as of June 30, 2018, was 7.4 percent. Returns for the past five years, using June 30 for comparison, are as shown below. All returns are net of fees.
Total assets represented on this chart includes the value of cash, investments (including the endowment portfolio), furniture, equipment, receivables, and other items of value.
INCREASE/DECREASE AS OF JUNE 30
2014
14.9%
-0.3%
2015
-5.0%
2016
$150
13.6%
2017 2018
$200
7.4%*
IN MILLIONS
164
172
165
2014
2015
2016
179
198
$100 $50 2017
A message from Deborah Imondi ’83, M.B.A.’86 Chair of the URI Foundation Investment Committee I am privileged to continue in my service as chair of the Investment Committee for the University of Rhode Island Foundation. Volunteering my professional experience toward something I care so much about is truly rewarding. Along with my Committee colleagues, I remain focused on the prudent oversight and management of the University’s invested portfolio. The endowment has seen significant recent growth. A recent Chronicle of Higher Education report had URI’s growth rate eclipsing both the national average and the performance of all other Rhode Islandbased college and university endowments. We are pleased with the portfolio’s performance and remain committed to continual strategic adjustments to our asset allocation and other factors to ensure the best possible results. A healthy endowment is among a university’s greatest assets, and your partnership in URI’s success is appreciated, always.
2018 ANNUAL REPORT F Y 2018 y
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Fundraising Highlights FISCAL YEAR 2018
M
ore than $31.8 million was committed to the University of Rhode Island during fiscal year 2018, including new pledges, outright gifts, new planned
gifts, and matching gifts. This represents an increase of 59 percent over
fiscal year 2017. This generous support contributed to enhanced funding for student
FISCAL YEAR 2018 NEW COMMITMENTS:
$31,830,611 44.7%
11.6%
NEW PLEDGES
NEW PLANNED GIFTS
access, faculty leadership, innovative and distinctive academic programs, strategic opportunities, and the overall learning experience at the University.
In all, 12,028 individuals and organizations contributed. Approximately 33 percent
of all gifts came from alumni, while parents, friends, corporations, foundations, and others also generously supported the University.
43.7%
First-time gifts totaled 2,701. New contributors are an important segment that
OUTRIGHT GIFTS
will continue to be a priority as the Foundation works to increase participation. Annual Fund gifts, another important marker of engagement and potential growth, increased by 21 percent, to more than $2.2 million. $385,070 in matching gifts were received, an increase of more than 19 percent over the previous year.
AMOUNT RECEIVED, BY DONOR CATEGORY
GIFTS BY PURPOSE
L ALUMNI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.4%
L ENDOWED GIFTS. . . . . . . . . . . . . . . . . . . . . . . . . 42.2%
L FRIENDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.2%
L OPERATING GIFTS. . . . . . . . . . . . . . . . . . . . . . . . 35.8%
L FOUNDATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . 23.8%
L CAPITAL IMPROVEMENTS. . . . . . . . . . . . . . . . . . 14.0%
L CORPORATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . 10.0%
L ANNUAL FUND . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.0%
L OTHER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7% L PARENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.9%
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FINANCIAL REPORT z UNIVERSITY OF RHODE ISLAND FOUNDATION
For the fiscal year ended June 30, 2018, with comparative totals from 2017 STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENTS OF ACTIVITIES Revenues, gains, and other support Contributions Net total investment returns Contractual payments from URI Other income Total revenues, gains, and other support Expenses University Support Academic support Athletics and club sports Buildings and equipment Library Community outreach Research support Scholarships, fellowships, loans, and awards Other programs and event support Alumni Association Total University support
2017
2018
$18,684,162 14,634,460 3,614,217 535,981
$24,313,175 9,301,085 6,076,229 1,943,891
$37,468,820
$41,634,380
2017 2018 $5,294,458 2,323,494 2,983,797 95,791 934,220 657,526 2,418,989 900,963 561,575
$5,438,893 1,921,266 828,506 101,191 2,193,026 861,370 1,638,721 853,877 819,837
$16,170,813
$14,656,687
Foundation Support Administrative expenses Development expenses Transfer to URI Research Foundation
$1,262,335 5,613,935 1,596,770
$1,463,491 6,006,317 137,487
Total Foundation support
$8,473,040
$7,607,295
$24,643,853
$22,263,982
$12,824,967 162,473,782
$19,370,398 175,298,749
$175,298,749
$194,669,147
Total expenses Changes in net assets Net assets, beginning of year Net assets, end of year
Assets
2017
2018
Cash and cash equivalents $14,489,190 Accounts receivable 272,589 Prepaid expenses 110,821 Pledges receivable, net 17,198,232 Notes receivable 34,651 Investments, at market value 144,676,606 Building, equipment, furniture, and fixtures, net 1,914,169 Charitable remainder unitrusts 344,874
$10,051,758 549,354 201,571 18,995,967 — 165,893,747 2,001,016 338,442
Total assets Liabilities and net assets
$179,041,132 $198,031,855 2017
2018
$839,462 597,139 709,012 1,596,770
$470,906 426,818 730,727 1,734,257
Total liabilities
$3,742,383
$3,362,708
Net assets Unrestricted Temporarily restricted Permanently restricted
$6,077,457 73,828,056 95,393,236
$7,442,061 86,360,570 100,866,516
Total net assets
$175,298,749
$194,669,147
Total liabilities and net assets
$179,041,132 $198,031,855
Liabilities Accounts payable and accrued expenses Other liability Gift annuity payable Due to URI Research Foundation
The accompanying unaudited financial statements were compiled internally by management. ANNUAL REPORT F Y 2018 y
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Ways to give to URI MAKE A DIFFERENCE TO THE UNIVERSITY OF RHODE ISLAND
A
lumni, parents, friends, corporate partners, and foundations play a vital role in advancing the University of Rhode Island. Your gifts provide scholarships and
fellowships, attract top scholars and educators, support vital research, and
enhance facilities across all campuses.
Outright gifts of cash, securities, or other property may be directed to specific areas of
the University. The pledge option allows you to make a gift over a period of time (generally up to five years). Endowed gifts, matching gifts, and memorial gifts also play a vital role.
The Annual Fund provides flexible and immediate support for emerging opportunities
and the most pressing needs as they arise. Annual Fund gifts enhance the overall URI experience, provide critical financial aid, improve academic programs, and much more.
Planned gifts, including bequests, could maximize your giving potential while
providing opportunity for generations to come. Certain planned gift vehicles could also provide you with a secure lifetime income.
Depending on your individual situation, you may receive a charitable income tax
deduction and eliminate or reduce capital gains taxes by making a gift to URI.
Development officers are available to discuss aligning your philanthropic goals with
University initiatives. Please contact us at 401.874.7900 or foundation@uri.edu.
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Our mission: The URI Foundation exists to inspire and steward philanthropic support benefiting the University of Rhode Island. We are grateful to the thousands of individuals and organizations who support a community of excellence, diversity, and innovation.
ANNUAL REPORT F Y 2018 y
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79 UPPER COLLEGE ROAD KINGSTON, RI 02881-2023
urifoundation.org foundation@uri.edu 401.874.7900 | 877.874.4555 HOW TO GIVE: All gifts to the University of Rhode Island should be made payable and mailed to the URI Foundation, P.O. Box 1700, Kingston, RI 02881. You may also make a secure online gift at urifoundation.org/giveonline. Elizabeth Breul O’Rourke, President
PUBLISHED BY THE URI FOUNDATION Austen Farrell, Chief Marketing Officer | Tracey A. Manni, Managing Editor | Amy Paulsen, Contributing Editor Contributing Photographers: Joe Giblin, Nora Lewis, Beau Jones, and Michael Salerno. Additional photos furnished by alumni. 34
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